HIVE Blockchain, a Canadian crypto miner, has struck a deal with Intel for acquiring ASIC chips. The largest semiconductor manufacturer will custom build these chips for HIVE.
HIVE has also entered into an agreement with an original design manufacturer (ODM). The ODM will “integrate Intel’s blockchain accelerators into an air-cooled Bitcoin mining system”.
“HIVE will participate in the system development process from design verification, through to the prototype stages, and then factory & test engineering regimens to arrive at a production model”, says Aydin Kilic, President and COO of HIVE.
These miners will be delivered over a period of year, starting from the second half of 2022. This whole setup is expected to increase the Bitcoin mining hashrate of HIVE by upto 95% of its current rate.
The publicly traded crypto miner, HIVE has also entered a “non-binding Letter Of Intent(LOI) with Compute North”. Compute North is a leader in sustainable, large-scale computing equipment and the agreement is “a 100 MW deployment at one of Compute North’s renewable energy campuses in Texas”.
Also Read: Intel Unveils 2nd Gen ‘Bonanza Mine’ Chip for Bitcoin Mining
Completion of the transaction is subject to receipt of all regulatory approvals including the approval of the TSX Venture Exchange.
